Analysts Set NIKE, Inc. (NYSE:NKE) Price Target at $94.04

Shares of NIKE, Inc. (NYSE:NKE) have received an average recommendation of “Moderate Buy” from the twenty-nine brokerages that are covering the firm, MarketBeat reports. Thirteen investment analysts have rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $93.15.

Several research firms recently issued reports on NKE. Royal Bank of Canada reduced their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Morgan Stanley dropped their price objective on NIKE from $82.00 to $80.00 and set an “equal weight” rating for the company in a research note on Friday, December 13th. UBS Group decreased their target price on shares of NIKE from $82.00 to $80.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. JPMorgan Chase & Co. dropped their price target on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Monday, December 2nd. Finally, TD Cowen cut their price target on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th.

NIKE Stock Performance

NYSE:NKE opened at $77.97 on Friday. The company has a market capitalization of $116.91 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 1.93 and a beta of 1.02. The business has a 50 day moving average of $78.39 and a 200 day moving average of $80.83. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. NIKE has a 1-year low of $70.75 and a 1-year high of $123.39.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. During the same period in the previous year, the business posted $0.94 EPS. The business’s quarterly revenue was down 10.4% on a year-over-year basis. On average, sell-side analysts predict that NIKE will post 2.73 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is 45.85%.

Institutional Investors Weigh In On NIKE

Hedge funds have recently added to or reduced their stakes in the stock. Teachers Insurance & Annuity Association of America bought a new position in NIKE in the 3rd quarter valued at approximately $30,000. VitalStone Financial LLC lifted its holdings in shares of NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. Dunhill Financial LLC boosted its position in shares of NIKE by 52.2% during the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after buying an additional 169 shares during the last quarter. MFA Wealth Advisors LLC bought a new stake in NIKE in the 2nd quarter worth about $46,000. Finally, Strategic Financial Concepts LLC purchased a new position in NIKE in the 2nd quarter worth about $48,000. 64.25% of the stock is owned by institutional investors.

NIKE Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.